The crash of an Ethiopian airliner in March may impact the earnings of reinsurers including Swiss Re as they also face demands to cover for claims arising from the grounding of the Boeing 737 Max 8 fleet. A consortium of reinsurers face claims covering the loss of life and aircraft but also the global grounding of Boeing’s fleet of 737 Max 8. Airlines and authorities reacted with a ban after the second crash of the new type of airliner within five months. Together, reinsurers face claims reaching about $1 billion, according to James Vickers, the chairman of Willis Re International. The company hasn’t yet given an estimate of how much it will have to pay out to cover for the claims.

Source: Ethiopian News April 02, 2019 09:22 UTC